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Stochastic Finance : An Introduction in Discrete Time, Paperback by Föllmer, ...
- Item No : 357221133971
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* Item Description
- Stochastic Finance : An Introduction in Discrete Time, Paperback by Föllmer, Hans; Schied, Alexander, ISBN 311046344X, ISBN-13 9783110463446, Brand New, Free shipping in the US
Föllmer and Schied introduce probabilistic methods in finance to graduate students of mathematics and to mathematicians in finance. They limit their account stochastic models in discrete time because the probabilistic machinery is simpler and they can discuss some of the key problems of pricing and hedging in financial derivatives right away. Also the paradigm of a complete financial market, where all derivatives admit a perfect hedge, becomes the exception rather than the rule. Thus the discrete-time setting provides a shortcut to some of the more recent literature on incomplete financial market models. For the fourth edition they have made a number of small changes, and added some background material more than two dozen new exercises. Annotation ©2017 Ringgold, Inc., Portland, OR ()
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